Bulls are acquiring more momentum
Sponge Price Analysis – 07 September
Bulls may be able to hold onto their advantage in the market if SPONGEUSDT breaks through the $0.000329 barrier level and runs into resistance in the $0.000404 to $0.000502 area. Failure to maintain $0.000262 could result in a price decline below the $0.000196 and $0.000136 support levels.
Sponge/USD Market
Key levels:
Resistance levels: $0.000329, $0.000404, $0.000502
Support levels: $0.000262, $0.000196, $0.000136
SPONGEUSDT Long-term Trend: Bullish
On the daily SPONGEUSDT chart, bullish. Bears were put on notice last month when a bullish reversal chart pattern emerged at the $0.000136 support level. As a result, the money swoops up north like an eagle. Price broke above $0.000136 and $0.000196 resistance levels prior to breaking through the $0.000262 barrier. In an effort to go back inside the broken $0.000262 level, it retreats. It’s currently getting close to the previous high of $0.000329.
After the recession, buyers are beginning to return to the SPONGE market. The price moving above the Hull Suite signal and the best Crypto indicator’s upward trajectory both point to a positive tendencies. Bulls may be able to hold onto their advantage in the market if the price breaks through the $0.000329 barrier level and runs into resistance in the $0.000404 to $0.000502 area. Failure to maintain $0.000262 could result in a price decline below the $0.000196 and $0.000136 support levels.
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SPONGEUSDT medium-term Trend: Bullish
The four-hour SPONGEUSDT chart shows an upward trend. Despite mounting pressure on the bulls, the medium-term trend remains robust. The $0.000502 resistance level will be tested when resistance levels like $0.000329 and $0.000404 collapse. The price is returning to the previous high of $0.000404 while remaining at the previously indicated level.
It looks like the market is moving swiftly because the price is greater than the Hull Suite indicator. Because the coin is trading above the signal, the market is favorable. A buy signal appears when the QQE MOD indicator is higher than zero.
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